Global Alternative Sweeteners Market is set to thrive at a healthy CAGR of 5% during the forecast period 2017 to 2023. The market is poised to reach a valuation of USD 1.58 Bn towards the end of 2023. The growth of the beverage industry is one of the key factors responsible for driving the growth of the alternative sweeteners market. The rising demand for beverages has intensified the demand for alternative sweeteners. The trend is expected to perpetuate in the foreseeable future.

The increasing health-seeking population has also catalyzed the demand for alternative sweeteners as it contains no or fewer calories. The changing lifestyle and rising working population are likely to drive the growth of the global alternative sweeteners market through the projection period.

The availability of a wide range of alternative sweeteners such as stevia, sucrose, maple syrup, etc. is estimated to augment the market across the review period. Other factors that are projected to favor the expansion of the alternative sweeteners market in the forthcoming years include rising population, growing inclination towards convenience food, exponential demand from confectioners, increasing demand from the frozen food industry, rising per capita disposable income, etc. Additionally, an upsurge in demand is also expected to be witnessed over the assessment period from the dairy industry.

The alternative sweeteners market, by region, has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America held the maximum share of the market in 217 which accounted for 37.9% share. It is likely to continue the same trend over the next couple of years. The alternative sweeteners market in the region is benefitted by the growing health-seeking consumers and rising disposable income. Europe is likely to exhibit a similar trend in the forthcoming years. Asia Pacific is a major growth pocket of the global alternative sweeteners market. It is estimated to strike a CAGR of 20.1% over the assessment period. The consolidation of key players in important country-level markets such as China and India are expected to expedite the expansion of the alternative sweeteners market.